Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $24,891 | $25,099 | $78,145 |
| Median Personal Income | $27,031 | $28,660 | $61,726 |
| Average income growth | 4.0% | 3.6% | 5.1% |
| Six-Figure Earners | 1.3% | 2.0% | 13.2% |
The median household income in Villalba Municipio is about 1% lower than in Puerto Rico. Income has been growing faster in Villalba Municipio (4.0%/yr) than in Puerto Rico (3.6%/yr).
About 1% of adults in Villalba Municipio earn six figures ($100,000 or more) a year, lower than the Puerto Rico average of 2%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Villalba Municipio, Puerto Rico grew by 66.4% from 2009 to 2023, reaching $24,891 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Villalba Municipio | Gender Pay Gap | Gini Coefficient
| Metric | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.589 | 0.633 | 0.570 |
| Male Median Income | $27,838 | $28,516 | $67,746 |
| Female Median Income | $26,684 | $28,791 | $54,793 |
| Gender Pay Gap | 4.1% | -1.0% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Villalba Municipio, it is 0.589, lower than Puerto Rico's 0.633, so income is more evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 4% more than women's income in Villalba Municipio, Puerto Rico. Over a 35-year career, a 4% wage gap accumulates to roughly $40,390 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Villalba Municipio, Puerto Rico has narrowed from about -8% to 4% in 2023. In dollar terms, the gap has widened by $2,444 since 2009.
Employment
| Metric | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 13.4% | 12.1% | 5.2% |
| Working from Home | 0.5% | 5.4% | 13.4% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 1,057 people are unemployed in Villalba Municipio, Puerto Rico.
The average commute time in Villalba Municipio is 27 minutes, longer than the 23 minutes in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Villalba Municipio, Puerto Rico has fallen from 20.0% to 13.4% in 2023.
Conclusion
Considering all these factors, Villalba Municipio, Puerto Rico has an overall wealth index grade of F, making it about on par with Puerto Rico, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Villalba Municipio, Puerto Rico.
How Rich Is Villalba Municipio, Puerto Rico?
Villalba Municipio has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $24,891, about 1% lower than the Puerto Rico average of $25,099.
What is the current median household income in Villalba Municipio, Puerto Rico?
As of 2023, the median household income in Villalba Municipio, Puerto Rico is $24,891.
What was the median household income in Villalba Municipio in 2023?
In 2023, the median household income in Villalba Municipio, Puerto Rico was $24,891.
What was the median household income in Villalba Municipio in 2020?
In 2020, the median household income in Villalba Municipio, Puerto Rico was $19,354.
What is the Gini coefficient in Villalba Municipio, Puerto Rico?
The Gini coefficient in Villalba Municipio is 0.589. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Villalba Municipio, Puerto Rico?
Since 2009, the income gap between men and women in Villalba Municipio, Puerto Rico has narrowed from about -8% to 4% in 2023. In dollar terms, the gap has widened by $2,444 since 2009.